Jacksonville P&F Narrows Consultant Search, Preps for Domestic Equity RFPs

The City of Jacksonville Police and Fire Pension Fund invested $15M in a real estate fund, whittled down its consultant search to five finalists, and is preparing to issue two RFPs for domestic equity managers.

According to recently published materials from its October 25 board meeting, the pension approved a $15M commitment to H.I.G. Realty Fund V, a value-add real estate fund. The board also said it is progressing in its search for a new investment consultant, with five firms shortlisted for interviews: current consultant RVK, along with Wilshire, Segal Marco Advisors, Marquette Associates, and NEPC.

Finally, the board approved a motion to issue RFPs for active managers for its large-cap and small- and mid-cap (SMID) value allocations, as it aims to strengthen its domestic equity portfolio. Current large-cap growth managers Loomis Sayles and Sawgrass Asset Management will be invited to compete, as will current SMID value manager Wedge Capital Management.

According to Dakota data, the pension fund oversees approximately $2.7B in assets.

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